9,730 Shares in Semtech Co. (NASDAQ:SMTC) Purchased by Everence Capital Management Inc.

Everence Capital Management Inc. bought a new position in shares of Semtech Co. (NASDAQ:SMTC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 9,730 shares of the semiconductor company’s stock, valued at approximately $213,000.

Other hedge funds have also recently bought and sold shares of the company. Neo Ivy Capital Management acquired a new position in Semtech during the second quarter worth about $41,000. Quarry LP acquired a new position in Semtech during the first quarter worth about $49,000. Captrust Financial Advisors grew its holdings in Semtech by 186.5% during the first quarter. Captrust Financial Advisors now owns 1,020 shares of the semiconductor company’s stock worth $71,000 after acquiring an additional 664 shares during the period. Tower Research Capital LLC TRC grew its holdings in Semtech by 35.3% during the third quarter. Tower Research Capital LLC TRC now owns 2,781 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 726 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in Semtech during the first quarter worth about $84,000.

Semtech Stock Down 3.1 %

Shares of Semtech stock opened at $31.05 on Friday. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -1.83 and a beta of 1.85. The company has a debt-to-equity ratio of 4.11, a current ratio of 2.46 and a quick ratio of 1.79. Semtech Co. has a 52-week low of $13.13 and a 52-week high of $35.80. The stock has a 50-day simple moving average of $25.28 and a 200-day simple moving average of $21.24.

Insider Activity

In other news, CFO Mark Lin purchased 1,000 shares of Semtech stock in a transaction dated Monday, April 8th. The stock was acquired at an average cost of $33.23 per share, for a total transaction of $33,230.00. Following the acquisition, the chief financial officer now directly owns 1,000 shares in the company, valued at $33,230. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Stifel Nicolaus increased their price target on Semtech from $31.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday. Susquehanna increased their price target on Semtech from $30.00 to $45.00 and gave the company a “positive” rating in a research report on Monday, April 1st. Northland Securities increased their price target on Semtech from $30.00 to $36.50 and gave the company an “outperform” rating in a research report on Monday, April 1st. Oppenheimer reiterated a “market perform” rating on shares of Semtech in a research report on Monday, April 1st. Finally, Needham & Company LLC increased their price target on Semtech from $26.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Semtech currently has an average rating of “Moderate Buy” and an average price target of $39.85.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.